Search results: FTX

Top blockchain and crypto news: Fear stalks crypto as Genesis wobbles. FTX cleanup begins. China’s NFT scene shrinks.

A majority of downfall of FTX was caused by a handful of people, but who else is to blame?

While the crypto industry grapples with the definition of blockchain-based digital tokens, South Korea wants to nail down the terminology.

CoinMarketCap has introduced a proof-of-reserve tracker for centralized crypto exchanges in a bid to improve transparency.

Coinbase CEO Brian Armstrong is reassuring users about the financial health of the Nasdaq-listed crypto exchange, following a tweet — since deleted — from CZ of Binance.

New York became the first U.S. state to enact a temporary ban on new cryptocurrency mining permits at fossil fuel plants, despite lobbying against the measure. 

Cathie Wood’s Ark Investment Management has bought over 1.3 million shares of Coinbase Global since the start of November, and 450,000 shares of Grayscale Bitcoin Trust (GBTC).

Cryptocurrency exchange Bitget plans to hire about 400 more staff, taking its total workforce to 1,200 by the first quarter of 2023, the company said in a statement on Tuesday.

Proof-of-stake blockchain platform Cardano and blockchain payment platform Coti will launch an algorithmic stablecoin Djed in January 2023

Berkshire Hathaway, the investment conglomerate run by billionaire Warren Buffet, has issued a warning about a fake cryptocurrency website that uses the Berkshire Hathway name.

Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to ramp up its investments in Southeast Asia and Europe as part of its global expansion, the company said in a statement on Tuesday.

Bitkub, one of the largest crypto exchanges in Thailand, is aiming to list in Hong Kong as early as 2024 when it goes public.

The world’s largest crypto exchange seeks to hire 600 more employees by the end of this year, its founder and chief executive officer said.

Investor confidence may be shaken, but crypto is here to stay, writes Alex Manson of Standard Chartered’s SC Ventures. Here’s how to restore trust and make the sector more resilient.

Coinbase Custody Trust, the institutional investment arm of Coinbase Global, holds 635,000 BTC on behalf of Grayscale Bitcoin Trust, according to a note by Coinbase Custody CEO Aaron Schnarch. Digital investment firm Grayscale has also declined to share proof of reserves, citing security concerns.

Should we be questioning which Web3 projects need tokens?

Bitcoin and Ether extended their losses through late Asian trading on Monday, as did all the top 10 non-stablecoin cryptocurrencies by market capitalization. Dogecoin was the biggest loser. 

South Korea’s FSC is considering a requirement that crypto exchanges offset investor losses for the sudden suspension of withdrawal services.

Input Output Global Inc. (IOG), the firm behind the Cardano blockchain, is releasing a new data-protection and privacy-centric blockchain and accompanying token.

Despite the crypto meltdown, there’s plenty to be optimistic about.

Genesis Block, a cryptocurrency over-the-counter trading service in Hong Kong, will close its trading portal on Dec. 10, Reuters reported on Friday citing an email the company sent to customers.

Bitcoin and Ether inched up in Friday evening trade in Asia with most other top 10 cryptocurrencies by market capitalization, excluding stablecoins. Dogecoin and Solana lost ground for a second consecutive day.

Binance.US is preparing to re-bid for bankrupt lending platform Voyager Digital’s assets, according to a CoinDesk report.

The Genesis brokerage arm of the Digital Currency Group is one of the latest cryptocurrency platforms to lock down withdrawals following the bankruptcy of crypto exchange FTX, and the freeze is spreading.

Bitcoin traded little changed Friday morning in Asia, while Ether fell along with most other non-stablecoin top 10 cryptocurrencies by market capitalization.

Terra’s former executive Daniel Shin’s US$100 million were frozen on Thursday; Do Kwon tweets that the Terra team did everything to save UST

Indian crypto exchange CoinSwitch’s proof of reserves summary, that was shared on Thursday, stated that as of Nov. 4, the exchange’s overall holdings of crypto and fiat balances in Indian Rupees (INR) exceeded those held by the exchange on behalf of its users.

Bitcoin fell during Wednesday afternoon trading in Asia along with all other top 10 cryptocurrencies, excluding stablecoins, led by declines in Polygon’s Matic.

Sam Bankman-Fried, the founder of the FTX, says he regrets the company’s bankruptcy filing, blamed the downfall on “messy accounting” and criticized regulators.

Yes, there is rivalry between the two global finance hubs. But their strengths are also complementary for Asia to become an even bigger crypto powerhouse, writes Lily Z. King.

Ethereum cofounder Vitalik Buterin has sounded a warning against the pitfalls of decentralized finance (DeFi) and self-custody, namely of bugs in smart contract code.

The collapse of FTX may extend crypto winter to the end of 2023, according to a monthly outlook report by U.S.-based crypto exchange Coinbase dated Nov. 15.  

Binance, world’s largest cryptocurrency exchange, has obtained Financial Services Permission from Abu Dhabi’s Financial Services Regulatory Authority (FSRA), to provide custody to professional clients in and from the Abu Dhabi Global Market (ADGM), the international financial center of the UAE’s capital.

Elon Musk’s messy Twitter acquisition has users looking for a decentralized social media alternative.

Bitcoin inched up during Wednesday afternoon trade in Asia while most of the top 10 cryptocurrencies by market capitalization, excluding stablecoins, rallied from recent losses.

Circle, the issuer of U.S. dollar-pegged stablecoin USDC, has said that stronger competition in the stablecoin market is likely to pressure Circle stablecoins, thereby slowing its growth and weighing on the financial outlook of the company. 

Bitcoin and Ether rose on Wednesday morning in Asia amid reports of alleged Russian missile strikes on Poland while inflationary data out of the U.S. provided support.

U.S.-based cryptocurrency exchange Coinbase has officially submitted its amicus brief to support Ripple in the lawsuit the U.S. SEC filed in 2020 against Ripple.

A rise in Bitcoin prices is the most important factor for a significant increase in the number of new investors, instead of distrust in public institutions, dislike for traditional banks, or search for a store of value, according to a report by the Bank for International Settlements. 

Ethereum founder Vitalik Buterin is looking to develop a proof-of-reserves protocol and Binance may be the “guinea pig” and serve as its first test case, said Binance chief Changpeng Zhao.

The chief executive of Crypto.com, said the exchange’s exposure to FTX when it shut was under US$10 million.

Changpeng Zhao, founder and chief executive of Binance, tells the B20 Summit in Indonesia that the world’s largest cryptocurrency exchange aims to help improve business and operation standards in the crypto industry.

Bitcoin and Ether strengthened in Friday afternoon trading in Asia, reversing some of Wednesday’s and Thursday’s sharp losses. All other top 10 cryptocurrencies by market capitalization, excluding stablecoins, also increased.

Bitcoin rose on Friday in Asia along with Ether and most other major tokens, reversing  a three-day slump as the Consumer Price Index (CPI) released Thursday showed inflation in the U.S. slowed in October.

Sam Bankman-Fried sent his first series of tweets since Binance announced and then scrapped an offer to buy his cash-strapped cryptocurrency exchange. He apologized, acknowledged mistakes and said he will do right by FTX users.

Bitcoin gained 5% after the U.S. Bureau of Labor Statistics reported that the consumer price index (CPI), a key inflation indicator, rose 0.4% in October from September. CPI was up 7.7% from a year earlier, less than the expected 7.9%, and down from 8.2% in September. October’s CPI recorded the smallest 12-month increase since January. 

Binance backs out of its initial offer to buy FTX. What could happen to FTX next?

Cathie Wood’s Ark Invest seized the opportunity provided by Wednesday’s market downturn to snatch a considerable chunk of Coinbase stock.

Binance, the world’s largest cryptocurrency exchange, has raised its emergency insurance fund “SAFU” to US$1 billion equivalent in cryptocurrencies, founder Changpeng Zhao said in a Tweet on Wednesday. 

Bitcoin recovered slightly in Wednesday afternoon trading in Asia after hitting a year-low of US$17,604 this morning amid news of Binance’s takeover of the FTX exchange following speculation of solvency issues at FTX, although several coins extended their declines.

“Pharma bro” Martin Shkreli has tried to reassure Terra chief Do Kwon that life in jail is “not the worst”, while they discussed the Binance-FTX deal on the UpOnlyTV podcast.

Bitcoin and Ether slumped in Tuesday afternoon trade in Asia, with almost every other top 10 cryptocurrencies by market capitalization, excluding stablecoins, also losing ground. For the second consecutive day, polygon was the only coin that strengthened.

In a period of toxic divide between the Democrats and Republicans, the need to figure out how to regulate the growing cryptocurrency industry is one of the few issues both parties seem to agree on.

BitDAO, or BIT, the token supported by crypto exchange Bybit, dropped more than 20% within an hour at one stage around noon on Tuesday in Asia.

Binance chief executive officer Changpeng Zhao (CZ) said in a Twitter thread that he had no intention of picking a fight with FTX CEO Sam Bankman-Fried.

Bitcoin dipped below US$21,000 in Tuesday morning trading in Asia as Ether and most other tokens in the cryptocurrency top ten by market capitalization, excluding stablecoins, lost ground.

Binance is preparing to operate in South Korea’s crypto market, said CEO Changpeng Zhao at the Web Summit 2022 held in Lisbon.

Top blockchain and crypto news: Hong Kong rethinks digital assets. CBDC to debut in India. China’s e-yuan privacy problem.

Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to move its headquarters to the Caribbean, its new advisory board member Justin Sun said.

NEAR Foundation is establishing a Web3 hub in South Korea to expand its allegiance with blockchain projects in Korea and Asia.

The billionaire founder of crypto exchange FTX, Sam Bankman-Fried, criticized regulations in Hong Kong and elsewhere that limit access to crypto investment to wealthy investors.

Hong Kong reveals digital asset policies to distinguish itself from China, where cryptocurrency trading was banned in September last year.

The founder of crypto exchange FTX, which moved out of Hong Kong in 2021, said that the city could emerge as a Web3, blockchain and cryptocurrency hub.

Bitcoin dropped nearly 3% in afternoon trading in Asia. All other top 10 cryptocurrencies by market capitalization, excluding stablecoins, declined following a strong two-day rally by most tokens.

Busan, S. Korea’s designated blockchain city, plans to make itself a global center for the technology. Binance, the world’s largest crypto exchange, plans to help.

When China banned cryptocurrency trading and mining in September 2021, it was feared that policy would make its way into Hong Kong. Seems that concern is getting a rethink.

Hong Kong is mulling plans to legalize retail crypto trading to regain its status as a global digital asset hub.

Hong Kong-based crypto investment firm Q9 Capital has received a provisional virtual asset approval from Dubai’s Virtual Asset Regulatory Authority (VARA), the company said on Wednesday in a statement shared with Forkast.

Top blockchain and crypto news: Aptos launch falls short. Why FTX chief is calling for crypto regulations. Is Hong Kong paving way for a retail CBDC?

South Korea’s Busan signs agreements global cryptocurrency exchanges Crypto.com and Gate.io to grow the city’s blockchain ecosystem.

Reddit non-fungible token (NFT) avatar trade volumes hit an all-time high, with sales exceeding US$2.5 million in the past 24 hours.

The blockchain network was built by former members of the Meta stablecoin project, with well-known investors and considerable buzz as the new ‘Solana killer.’